Hi!! My husband and I bought an investment property in 2021 for short term rental in dallas area using host financial (dscr loan). The taxes are really hurting our cash flow bc they have no appreciation cap. Essentially they nearly doubled since purchase. We are thinking of refinancing later this year after paying it down further, claiming homestead (need to move in before Jan 1, 2025) /selling to ourself for original amount to get the tax value down and moving into it. We have been stuck since purchasing it, as my mortgage broker said I don't qualify for a regular mortgage due to the debt to income ratio impact. That said are my hands tied on buying another rental property until I refinance this house into my personal name? Currently our rental property is in an LLC but personally guaranteed by me. Any advice for buying a personal home while building investment portfolio? I found an investment property I really want to buy.. Thanks in advance for any tips!
